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Cyprus

Delivery:

6 months

Price: $

2,000,050.00

Payment methods:

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UK comapny formation (1).webp

About

Cyprus

Capital
Official languages
Population 
Currency

ISO 4217

Nicosia

Greek and Turkish

1,197,411 (as of July 2020)

Euro

CYP

Document checklist:

The specific document requirements for the Citizenship by Investment Program (CIP) of Antigua and Barbuda may vary depending on the investment option chosen and the personal circumstances of the applicant. However, generally, the following documents are required to apply for citizenship under the program:


1. Passport or other travel document: A valid passport or other travel document is required to confirm the applicant's identity and nationality.


2. Birth certificate: A certified copy of the applicant's birth certificate is required to confirm their age and place of birth.


3. Marriage certificate or divorce decree: If applicable, certified copies of marriage certificates and divorce decrees are required to confirm the applicant's marital status.


4. Police clearance certificate: A police clearance certificate or equivalent document is required from the applicant's country of citizenship and any other countries where they have resided for more than six months within the last ten years.


5. Medical certificate: A medical certificate from a recognized medical practitioner is required to confirm the applicant's good health.


6. Proof of funds: Proof of the applicant's ability to make the required investment, such as bank statements, tax returns, and investment portfolio statements.


7. Investment documentation: Documentation related to the chosen investment option, such as a donation receipt, real estate purchase agreement, or business investment agreement. 

Provided by B2B Hub


8. Due diligence documentation: Any additional documentation required for the due diligence background check, such as employment history, educational certificates, and references.

Provided by B2B Hub

 

Process

The Citizenship by Investment Program (CIP) of Cyprus is a program that allows foreign investors to acquire citizenship and a passport of Cyprus in exchange for a significant investment in the country. Cyprus is a European Union member state located in the eastern Mediterranean.


Under the program, there are several investment options available:


1. Real Estate Investment: This option requires an investment in real estate with a minimum value of EUR 2 million.


2. Business Investment: This option requires an investment in a Cypriot company or business with a minimum investment of EUR 2 million.


3. Alternative Investment: This option requires an investment in a combination of real estate, business, and other eligible investments with a minimum total investment of EUR 2 million.


To qualify for citizenship under the program, applicants must meet certain eligibility requirements, including being at least 18 years old, passing a due diligence background check, and meeting the minimum investment threshold. The processing time for the application typically takes between 6 to 9 months.


Successful applicants are granted full citizenship of Cyprus, including the right to live, work, and study in the country without any restrictions. Cyprus citizenship also provides visa-free or visa-on-arrival access to over 170 countries, including the European Union, the United Kingdom, and the United States.


It is important to note that the Cyprus Citizenship by Investment Program has its own specific requirements and regulations, and applicants should ensure they meet all the requirements and consult with an authorized agent or immigration lawyer before applying.

Economy

"The economy of Cyprus has been steadily growing over the past few years. According to the World Bank, the GDP of Cyprus in 2019 was $24.3 billion, a 4.2% increase from 2018. The unemployment rate in Cyprus has also been decreasing, dropping from 8.9% in 2018 to 7.7% in 2019. The inflation rate in Cyprus has also been relatively low, averaging 1.7% in 2019.

The services sector is the largest contributor to the economy of Cyprus, accounting for around 80% of the GDP. Tourism is a major part of the services sector, with over 3 million tourists visiting the country in 2019. The manufacturing sector is the second largest contributor to the economy, accounting for around 15% of the GDP.

Overall, the economy of Cyprus has been performing well in recent years, with steady growth and low unemployment and inflation rates."

Taxation

In Cyprus, both individuals and companies are subject to taxation.


For individuals, Cyprus operates a progressive tax system with tax rates ranging from 0% to 35% on the taxable income earned during a fiscal year (which is the calendar year). The tax system is residency-based, meaning that tax residents are taxed on their worldwide income, while non-residents are only taxed on their Cyprus-sourced income. There are also various deductions and exemptions available to reduce the taxable income, such as deductions for pension contributions and donations to charities.


For companies, the corporate tax rate is a flat rate of 12.5% on their taxable income. Dividends received by a Cyprus resident company are exempt from taxation in Cyprus, subject to certain conditions. Moreover, Cyprus has an extensive network of double tax treaties, which may reduce the tax burden for foreign investors in Cyprus.


Tax returns for both individuals and companies are generally due on or before the 30th of September following the end of the fiscal year. Companies are required to pay their taxes in installments throughout the year based on their projected income. Moreover, there are additional deadlines for specific taxes such as the Social Insurance and the VAT returns.


In Cyprus, the tax authority responsible for administering and collecting taxes is the Cyprus Tax Department. Payment of taxes can be made at designated banks or online through the TAXISnet system.


It is important to note that Cyprus has a complex tax system, with various incentives and exemptions available. Therefore, it is advisable for individuals and companies to seek advice from professional tax advisors to ensure that they comply with all tax obligations and take advantage of all available benefits.

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B2B hub provides fillable PDF application forms, you can simply save the filled form and send us by email clicking here  reg@b2bhub.uk or live chat

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